- Exterran Holdings (EXH) +2.7% premarket on news it will spin off its international and fabrication businesses into a new publicly traded company.
- EXH will become a pure-play U.S. compression services business, with a 37% ownership interest in Exterran Partners (EXLP), and all incentive distribution rights; it will retain the remaining U.S. contract operations and aftermarket business.
- EXH expects the new, separate company to have more financial flexibility, an expanded product customer base and more opportunity for cash flow generation, with the remaining company maintaining stable cash flow and more efficient return for shareholders.